US States Enable Money Launderers, Undermine Federal Investigators: FATFScant, uneven efforts by U.S. state authorities to identify the individuals who own or control companies formed within their jurisdictions hobble federal efforts to investigate and prosecute money launderers, an intergovernmental group recently concluded.

US-Mexico Correspondent Ties Recover Under Data-sharing ArrangementDomestic banks and U.S.-headquartered affiliates in Mexico have increased their supply of know-your-customer and transactional information to institutions in the United States under a bilateral agreement finalized last year, say sources.

Senators Introduce Bill to Reform State Department's Human Trafficking Report
Two U.S. Senators introduced the Trafficking in Persons Report Integrity Act, which would strengthen minimum standards and clarify the ranking process used to create the U.S. State Department's annual Trafficking in Persons Report.

Secretary of State Kerry Issues Remarks on Anti-Corruption Efforts
U.S. Secretary of State John Kerry spoke at the opening session of the Organization for Security and Co-operation in Europe ministerial, focusing on anti-corruption issues, in particular the reforms being enacted in Ukraine.

In its latest mutual evaluation report of Singapore, the Financial Action Task Force recommended that the jurisdiction:

A. Conduct a comprehensive money laundering risk assessment of all types legal persons, including private, public and foreign companies.B. Ensure effective supervision of all categories of designated non-financial businesses and professions.C. Conduct a review of the non-profit organization (NPO) sector to better under which NPOs are particularly vulnerable to terrorist financing.D. All of the above.

Proposed regulations from the New York State Department of Financial Services and guidance from the Central Bank of Ireland released this month should prod compliance officers to talk more about the growing elephant in the room: cybersecurity.

Finra Fines Convergex Execution Solutions LLC $3 Million for AML FailuresThe Financial Industry Regulatory Authority issued a monetary penalty against the New York, NY-based firm for its failure to establish an anti-money laundering program designed to detect potentially suspicious transactions in microcap securities.

Finra Fines Melville Island, LLC $82,500 for AML FailuresThe Financial Industry Regulatory Authority issued the penalty against the Chicago, IL-based firm for various violations including not conducting anti-money laundering testing for 2011 and 2012 and conducting the testing late in 2013.